Futu Holdings Limited Sponsored ADR $FUTU Shares Acquired by Greenwoods Asset Management Hong Kong Ltd.

Greenwoods Asset Management Hong Kong Ltd. grew its holdings in Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) by 9.8% during the second quarter, HoldingsChannel reports. The fund owned 1,093,634 shares of the company’s stock after purchasing an additional 97,286 shares during the period. Futu accounts for about 4.7% of Greenwoods Asset Management Hong Kong Ltd.’s investment portfolio, making the stock its 5th biggest holding. Greenwoods Asset Management Hong Kong Ltd.’s holdings in Futu were worth $102,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FUTU. Aspex Management HK Ltd lifted its stake in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after purchasing an additional 919,724 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Futu by 7.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock worth $288,720,000 after purchasing an additional 116,143 shares in the last quarter. State Street Corp raised its holdings in Futu by 18.4% during the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after purchasing an additional 188,840 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after buying an additional 1,002,171 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Futu by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 1,006,656 shares of the company’s stock worth $124,413,000 after buying an additional 257,389 shares during the last quarter.

Futu Trading Down 1.0%

Shares of FUTU opened at $118.08 on Thursday. The firm has a market cap of $16.55 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.46. The company’s 50 day simple moving average is $105.51 and its 200-day simple moving average is $124.17. Futu Holdings Limited Sponsored ADR has a 12-month low of $80.50 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last announced its earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The business had revenue of $852.66 million for the quarter, compared to analysts’ expectations of $786.07 million. As a group, equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 9.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on FUTU shares. Wall Street Zen raised shares of Futu from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $87.00 price target (down from $300.00) on shares of Futu in a research report on Friday, May 22nd. Jefferies Financial Group restated a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, The Goldman Sachs Group cut Futu from a “buy” rating to a “neutral” rating and set a $102.13 target price on the stock. in a research report on Monday, May 25th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $139.91.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.